Oklo (NYSE:OKLO) Shares Gap Down Following Analyst Downgrade

Oklo Inc. (NYSE:OKLO) shares gapped down prior to trading on Tuesday after Citigroup lowered their price target on the stock from $31.00 to $30.00. The stock had previously closed at $30.91, but opened at $28.88. Citigroup currently has a neutral rating on the stock. Oklo shares last traded at $28.85, with a volume of 5,504,129 shares trading hands.

A number of other equities research analysts have also weighed in on OKLO. Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new stake in Oklo in the 4th quarter worth $27,000. Sandy Spring Bank purchased a new stake in shares of Oklo during the fourth quarter worth about $32,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the fourth quarter worth about $32,000. Covestor Ltd purchased a new position in Oklo during the 4th quarter valued at about $34,000. Finally, Anfield Capital Management LLC bought a new position in Oklo during the 4th quarter valued at approximately $43,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Trading Down 6.9 %

The business has a 50-day simple moving average of $36.13 and a 200 day simple moving average of $24.36.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.